Neds and Ladbrokes owner Entain secures exclusive 25 year NZ TAB control
Global betting site giant Entain is poised to take over the reins of the New Zealand Totalisator Agency Board (TAB) on June 1, in a landmark development for the country’s racing sector.
The government has given its final approval for the move, which is set to have far-reaching implications.
New Zealand’s sport and racing sectors are set to receive a significant boost with the announcement of a quarter-century agreement that will inject an extra $150 million into the industry.
NZ Racing Minister Kieran McAnulty has hailed the agreement as a momentous occasion in the history of New Zealand racing.
According to a recent report, the nation’s three racing codes are set to receive a minimum of $100 million in increased funding over the next five years as part of a new deal.
The New Zealand racing industry has been grappling with challenging times following the COVID-19 pandemic, which led to a substantial decline in revenue.
The Entain deal has brought a new wave of optimism to the racing industry in New Zealand, offering a renewed sense of hope to those involved, according to a source.
Entain is the parent company of Australian sports betting sites, Neds and Ladbrokes.
According to sources, an agreement has been reached that is anticipated to halt the decrease in racing revenues and provide a level of assurance for the upcoming years.
According to a source, McAnulty has expressed confidence that the partnership will enhance the future of the racing industry and sports in New Zealand by increasing financial distributions to national sports organisations.
As part of the agreement and in order to obtain government support, Entain has pledged to guarantee job security for its 460 employees for a minimum of two years. According to a source, a portion of the funding has been allocated to tackle the problem of gambling addiction.
Dean Shannon, the CEO of Entain Australia, has hailed the government’s endorsement as a significant moment in the transformation of New Zealand’s betting industry.
The individual expressed their joy and appreciation upon receiving official approval from the government to solidify the strategic alliance between TAB NZ and Entain Australia.
According to Shannon, the long-term strategic alignment is poised to revolutionise sports betting in New Zealand.
In addition, the individual expressed satisfaction with the agreement, citing its potential to generate significant financial benefits for New Zealand’s three racing codes and a diverse range of national sports organisations.
Entain, a company known for its focus on innovation and customer satisfaction, is looking to strengthen its relationship with the exceptional team at TAB NZ.
TAB NZ has announced its plan to introduce a range of new, high-quality products, services, and player safety tools to its loyal customer base.
The ultimate goal is to provide an enhanced betting experience while ensuring the safety and well-being of its players
